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Seoul shares open higher on Wall Street gains

June 14, 2024 - 09:33 By Yonhap
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Friday. (Yonhap)

South Korean shares opened slightly higher Friday tracking overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index added 4.72 points, or 0.17 percent, to 2,759.61 in the first 15 minutes of trading.

The Kospi has finished higher for three consecutive sessions, tracking US stock indexes that climbed to record highs amid a slowdown in inflation.

The Nasdaq and S&P 500 again reached new highs Thursday, helped by renewed hopes for the start of US rate cuts within the year.

In Seoul, large caps traded mixed.

Market kingpin Samsung Electronics soared 1.02 percent, while another chipmaking giant SK hynix slipped 0.45 percent.

Leading battery maker LG Energy Solution lost 0.83 percent, but its local rival Samsung SDS gained 0.53 percent.

Top automaker Hyundai Motor advanced 0.37 percent, with its small affiliate Kia adding 0.82 percent.

The local currency was trading at 1,376.55 won against the US dollar, down 2.65 won from the previous session's close. (Yonhap)